On about the 15th of each month, the ThinkLiveBe team gets the stats for the previous month. We analyze that data to see how it compares to the previous year and share what’s going on in the market and what to expect. The season is changing and we move into Autumn and cooler temperatures reach us, the real estate market has cooled a bit more too. However a downward trend in interest rates could lead to a steady or pop in sales by the end of this year.

For an update, read more below or watch the video:

There’s a few new things to discuss this month!

1. Interest rates are the lowest they’ve been in 2 years. The impact of lower rates takes time to show up in the stats. Assuming rates remain steady or continue downward we are likely to see a peak in sales at the end of the year or at least remain pretty steady.
2. The number of homes for sale is up since last year and the highest number we have seen in almost 10 years. However the number of listings has been pretty stable the last few months. Since we don’t expect major shifts in supply or demand in the next few months, that’s another indicator that the market will be pretty steady with maybe a slight pop in sales if rates improve.
3. Comparing supply to demand we have a little over 5 months of available inventory which is considered a “balanced market”.
4. Despite rates and slightly lower sales this year the prices have still gone up 2.7% since this time last year.
5. The number of pending sales is up slightly since last year which is another indicator the year end will be steady or slightly higher than where we are now.

If you are thinking of buying a home you have more options than you have had in almost a decade AND rates are looking better. You have more negotiating power than we have seen in many years as long as you are dealing with a serious seller.

As a homeowner thinking of selling, the good news is that prices remain strong and actually in most areas they are higher than they were last year.

There is still time to buy or sell and be settled before Christmas or the New year! Every location and situation is unique, Contact us today or Give us a call at 407-982-7240 and we’ll walk you through the best scenario for you!